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Find the own-price elasticity

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Reference no: EM132227736

Assume you've been given the following equation:

QA = 200 - 0.5PA + 1.5PB + 0.1I

You've also been given the following information: PA = 50; PB = 30; and I = 100

  1. Find the own-price elasticity. What type of good is it?
  2. Find the cross-price elasticity. What type of good is it?
  3. Find the income elasticity. What type of good is it?

Reference no: EM132227736

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